eLoansForBusiness 485 Underhill Blvd., Suite 100
Syosset, NY 11791
Phone: 516.739.0346 * Fax: 516.739.0347
Rapt Specializes in commercial loans that others consider hard to close.
Check List

 


Eligibility, size classification, minority ownership, debt service coverage, goodwill... ..... Bureaucratic and lender jargon. What is important?


Check List For Property Acquisition
(Existing Business)

1- Description of Property
2- Appraisal (if available)
3- Environmental Report (if available)
4- Last Three years Financial Statements & Tax Returns (IRS 1120' s) for existing business.
5- Recent Interim Financial Statement (within 30 days)
6- Personal Financial Statement of Borrower
7- Personal Tax Returns (IRS 1040's) for each Principal (>20 % ownership) for Last Three Years.

Check List For Equipment Acquisition
(Existing Business)

1- List of equipment being purchased
2- Appraisal (if available)
3- Three years Financial Statements & Tax Returns (IRS 1120' s) for existing business.
4- Recent Interim Financial Statement (within 30 days)
5- Personal Financial Statement of Borrower.
6- Personal Tax Returns (IRS 1040's) for each Principal (>20 % ownership) for Last Three Years.

Start-up Business

1- List of assets (property/equipment) being purchased
2- Appraisal (if available)
3- Three years Financial Statements (Projection)
4- Personal Financial Statement of Investor.
5- Personal Tax Returns (IRS 1040's) for each Principal (>20% ownership) for Last Three years.
6- Personal Investment.
7- Use of Funds Breakdown
8- Total Loan Request.

"Buying an Existing Business"

1- List of assets (equipment/property) being purchased
2- Appraisal (if available)
3- Last Three Years Financial Statement & Tax Returns (IRS 1120's) for existing business.
4- Recent Interim Financial Statement (within 30 days)
5- Personal Financial Statement of Borrower.
6- Personal Tax Returns (IRS 1040's) for each Principal (>20 % ownership) for last Three Years.
7- Use of Funds Breakdown
8- Total Loan Request.
9- Buyer Investment.